MergerAug 6, 2026, 04:17 PM
HELIX ENERGY to Merge with Hornbeck Offshore; Q2 Net Income $22.7M
AI Summary
HELIX ENERGY SOLUTIONS GROUP INC announced a definitive merger agreement with Hornbeck Offshore Services, Inc., where Helix securityholders will own approximately 45% of the combined entity, expected to close by September 1, 2026. Concurrently, the company completed the divestment of Helix Alliance for an estimated $104.2 million, resulting in a $16.1 million pre-tax gain. For the second quarter of 2026, Helix reported a net income of $22.7 million on net revenues of $304.0 million, a significant improvement from a net loss in the prior year.
Key Highlights
- Entered merger agreement with Hornbeck Offshore Services, Inc.
- Helix securityholders to own approximately 45% of the combined company.
- Completed sale of Helix Alliance for an estimated $104.2 million.
- Recognized $16.1 million pre-tax gain on the sale of Helix Alliance.
- Q2 2026 net income was $22.7 million, up from $(2.6) million loss YoY.
- Q2 2026 net revenues increased 20.8% to $304.0 million.
- Year-to-date net cash from operations was $115.7 million.
- Cash and cash equivalents rose 55.9% to $652.2 million since Dec 2025.
Price Impact
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